California Debt Commission Plans To Freeze Fees on Bond Transactions

ALAMEDA, Calif. — The California Debt and Investment Advisory Commission intends to hold the line on the reporting fees it charges for bond transactions in the state.

The fees are used to fund CDIAC’s mission to advise public agencies on debt issuance and investments, and serve as a clearinghouse for debt issuance data.

Under current law, those filing fees are slated to increase by a third on July 1.

But the commission announced its intentions to freeze those rates in a recent newsletter, saying state Treasurer Bill Lockyer, CDIAC’s chairman, plans to call a meeting to consider a rate freeze.

The meeting originally scheduled for June 14 has been postponed until sometime in July, but the rate increase won’t be implemented, according to Lockyer spokeswoman Alice Scott.

“CDIAC fees will remain as is, with no adjustment,” she said.

It will be the commission’s first meeting in two years.

CDIAC’s executive director, John Decker, recently resigned. Until a permanent replacement is named, that role is being filled on an interim basis by Hugo Lopez, director of administration for the treasurer’s office.

Lopez previously served as the commission’s executive director for a spell after Phil Angelides took office as treasurer in 1999.

CDIAC fees for long-term debt issues are currently 1.5 basis points, with a $3,000-per-transaction cap; they had been slated to rise to 2 basis points or a maximum of $4,000.

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California
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